India's new closing auction stokes sharp Nifty swings, options volatility on weekly expiry

India's Nifty 50 index faced notable volatility yet again, largely driven by the recent implementation of a new closing price mechanism. This development coincided with the expiration of weekly derivative contracts, which created turmoil among traders. As the Nifty 50 moved lower, experts indicated the necessity for critical adjustments to the new pricing system to address the prevailing issues.